And as he outlined the economic reality of their current plight, he insisted the Ibrox side’s share issue struggles should be ringing alarm bells for everyone over the lack of investment in the Scottish game.

He said: “In terms of Scotland, we have done better than everybody in keeping our standards and keeping our level.

“That is hugely difficult in the present environment.

“The lost money which Rangers, and now Hearts and Hibs, have taken out of the game, has been made up from profit from selling players. Our revenues have stayed the same from selling players to make up for those lost millions.

"But when Rangers went down we took £100 off season tickets. So that is £4m for two years. The Rangers games, at least another £3m.

“Then there’s a perception among our supporters that there is no competition, you are going to win anyway and you don’t go to the game. So it could be £10m.

Celtic have been hit in the pocket by the loss of Old Firm derbies

“We could have lost £10m a year, quite easily, on the back of Rangers going down. How we have coped with that is seeing that ahead and keeping that strategy of being successful on the park, stable off it.

“Hearts and Rangers have gone bust and yet we are still getting it.”

Rangers’ statement to the stock exchange on Friday outlined the depth of their former rivals’ difficulties.

And Lawwell confessed: “It does concern me and shows the challenges we face. They couldn’t raise £10m, they are going out for £4m, therefore there is a chronic lack of investment in the Scottish game.

“If Rangers can’t do it, who CAN do it? I’m wary of being pessimistic and talking the game down but these are facts that are not good signs.

“It’s difficult. With the uncertainties, the risk. We don’t think we are God’s gift, we don’t think the strategy is flawless.

“Of course it is flawed because it is football and it is chance. Karagandy last year, they hit the bar. Maribor this year, Callum McGregor’s shot might not have hit the bar.

“In football you have to prepare for being fallible. Which we have done.”

Lawwell also revealed the reason behind his club’s inaction when it came to signing Scottish talent.

Fans have expressed frustration at the likes of Stevie May, Ryan Gauld, Andy Robertson and Johnny Russell all Moving away at good prices while Celtic have been spending on the likes of Teemu Pukki and Amido Balde.

However, the chief exec said: “We’d love to have Scottish players. It’s better having Scottish players. But our guys don’t think they are good enough.

“A Scottish player would be a priority if it’s right. It’s not like we are fascinated with going foreign all the time.”

Lawwell revealed Celtic currently have 38,000 season tickets and 2000 corporate seats sold.

Their biggest problem now, in the absence of Europe’s elite coming to town, is keeping them.

He said: “Going back over the last two years, what invigorated our fans was the Champions League. That got them going to the games.”